Global Metal Casting Market Size, Share, Growth Analysis, By Material(Iron, Steel), By Application(Automotive & Transportation, Industrial)

Description

Global Metal Casting Market size was valued at USD 151.94 billion in 2022 and is poised to grow from USD 160.75 billion in 2023 to USD 252.37 billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).

Many businesses, such as those involved in transportation, heavy machinery, machine tools, plant machinery, defense, electrical equipment machines, hardware, residences, and artwork, use metal castings. The impending demand from new sectors is driving an extremely rapid expansion of the metal casting market. 50% of casting consumption in the metal casting market is accounted for by heavy machinery and transportation. The body assembly component utilized in vehicle production is the main factor behind the growth of the metal casting industry. The increasing utilisation of X-ray casting fault detection systems is expected to drive significant growth in the global metal casting market over the forecast period. Furthermore, technological advancements like digital imaging and radiography have made it possible for process inspectors to detect casting mistakes, which is anticipated to drive the growth of the metal casting market. Due to the worsening environmental conditions, manufacturers have created simulation-based castings in an attempt to reduce waste and operational costs.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Metal Casting Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Metal Casting Market Segmental Analysis

Global Metal Casting Market is segmented on the basis of material, application and region. By material, the market is segmented into iron, steel, aluminum, others. By application, market is segmented into automotive & transportation, industrial, building & construction, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Metal Casting Market

The growth of infrastructure and industrialization are directly related to the need for metal castings. Metal castings are becoming more and more necessary in industries like automotive, construction, energy, and machinery manufacture as nations become more industrialized. The need for metal castings is further fueled by the development of infrastructure projects, such as the construction of buildings, bridges, and transportation networks.

Restraints in the Global Metal Casting Market

The metal casting sector needs laborers with metallurgical, mold-making, and casting process experience. However, in some areas there is a dearth of experienced labor, which may restrict the possibility for metal casting enterprises to flourish. Lack of competent labor can cause productivity to suffer, lead times to increase, and make it more difficult to maintain constant quality standards.

Market Trends of the Global Metal Casting Market

Metal castings with excellent surface finishes are in greater demand due to rising customer expectations and aesthetic criteria. For cast components, manufacturers are investing in high-tech surface treatment processes like electroplating, powder coating, sandblasting, and shot blasting in order to produce superior finishes.

Product Code: SQMIG15J2034

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Metal Casting Market by Material

Market Overview
Iron
Steel
Aluminum
Others

Global Metal Casting Market by Application

Market Overview
Automotive & Transportation
Industrial
Building & Construction
Others

Global Metal Casting Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Alcoa Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Thyssenkrupp AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
General Electric Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nemak (Mexico)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Buhler AG (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bharat Forge Limited (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hitachi Metals, Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Arconic Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CITIC Dicastal Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Xinxing Ductile Iron Pipes Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Amsted Industries Incorporated (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
China First Heavy Industries (CFHI) (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Weichai Group (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Grupo Industrial Saltillo (Mexico)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Neenah Foundry Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Metal Technologies Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ryobi Limited (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aisin Takaoka Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Waupaca Foundry, Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gibbs Die Casting Corp. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kocel Machinery Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Shiloh Industries, Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Metal Casting Market Size, Share, Growth Analysis, By Material(Iron, Steel), By Application(Automotive & Transportation, Industrial) - Industry Forecast 2024-2031